Songtradr CEO Hints at New Products After Acquiring Creative Music Agency MassiveMusic

Kiara Rodriguez
Kiara is an editorial intern at dot.LA. She has interned in communications at KCRW, assisted with economics research at Brookings Institution,and reported for local publications in New Jersey. Before joining dot.LA, she was a Yenching Scholar at Beijing University, researching the politics of international communications and leading the Yenching Academy’s podcast. She graduated from Princeton University in 2019 with a B.A. from the School of Public and International Affairs.
Songtradr CEO Hints at New Products After Acquiring Creative Music Agency MassiveMusic
Courtesy Songtradr
Songtradr's acquisition on Wednesday of creative music agency MassiveMusic marks the latest step in its quest to become the leading B2B music licensing marketplace.

MassiveMusic, which uses data analytics to help brands customize what sounds and songs to feature across media, has approximately 85 employees across offices in Amsterdam, Berlin, London, New York, Los Angeles and Tokyo. The company's list of clients includes Nike, Heineken, Apple and UEFA.

"MassiveMusic is the largest music agency working with brands and advertisers," said Songtradr CEO Paul Wiltshire. "There will be no redundant stakeholders during the acquisition process and very limited restructuring. It's very complementary from a structural point of view."

And the benefits go both ways, said Wiltshire.

"Acquisition of MassiveMusic will lay the groundwork for future tech products that we are rolling out, including one that will be released in the third quarter this year," said Wiltshire, who declined to speak about what exactly that tech will look like. "It will be able to create more visibility and efficiency, and it will be highly complementary to MassiveMusic's clients."

Songtradr raised $30 million in a Series C round last summer, and the Santa Monica-based startup has so far made four acquisitions in 2021. MassiveMusic is its largest to date.

With more than 1.5 million tracks on their platform, Songtradr says it has licensed over 300,000 tracks since it launched in 2014, ranking it among the largest music licensing platforms.

In 2019, it acquired Big Sync Music, and since gone on to acquire Cuesongs, Song Zu, Pretzel, Tunefind and made an investment into ASX listed music data company Jaxta.

"Our ambition is to be the largest B2B global music ecosystem and marketplace", Wiltshire said.The acquisition allows Songtradr to make use of MassiveMusic's extensive music library for their existing customers. It comes at a crucial moment in the industry, when musicians are increasingly embracing live streaming and short-form videos on new apps like TikTok.

As music streaming dramatically increases on new platforms, the music industry is expected to double in size to $131 billion by 2030.

kiara@dot.la

Subscribe to our newsletter to catch every headline.

Cadence

Venture Firm Backstage Capital Laid Off Nine Employees, Reducing Its Staff to Just Three

Kristin Snyder

Kristin Snyder is an editorial intern for dot.la. She previously interned with Tiger Oak Media and led the arts section for UCLA's Daily Bruin.

Venture Firm Backstage Capital Laid Off Nine Employees, Reducing Its Staff to Just Three
Photo by Jp Valery on Unsplash

Venture firm Backstage Capital laid off nine employees, reducing its staff to just three.

Managing partner and founder Arlan Hamilton announced the layoffs Sunday on her “Your First Million” podcast. General partners Christie Pitts and Brittany Davis, along with Hamilton, are the only remaining employees, TechCrunch reported. The move comes only three months after the Los Angeles-based firm said it would only fund existing portfolio companies.

Read moreShow less

A New Tide of LA Startups Is Tackling the National Childcare Crisis

Keerthi Vedantam

Keerthi Vedantam is a bioscience reporter at dot.LA. She cut her teeth covering everything from cloud computing to 5G in San Francisco and Seattle. Before she covered tech, Keerthi reported on tribal lands and congressional policy in Washington, D.C. Connect with her on Twitter, Clubhouse (@keerthivedantam) or Signal at 408-470-0776.

A New Tide of LA Startups Is Tackling the National Childcare Crisis
Courtesy of Brella

The pandemic exacerbated a problem that has been long bubbling in the U.S.: the childcare crisis.

According to a survey of people in science, technology, engineering and mathematics (STEM) careers conducted by the city’s WiSTEM Los Angeles program and shared exclusively with dot.LA, the pandemic exposed a slew of challenges across STEM fields. The survey—which consisted of 181 respondents from L.A.County and was conducted between March 2021 and 2022— involved respondents across medical fields, technical professions and science industries who shared the pandemic’s effects on their professional or education careers.

Read moreShow less

“Talent Is Ubiquitous; Access to Capital Is Not': MaC Venture Capital Raises $203M for Early-Stage Startups

Decerry Donato

Decerry Donato is dot.LA's Editorial Fellow. Prior to that, she was an editorial intern at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

“Talent Is Ubiquitous; Access to Capital Is Not': MaC Venture Capital Raises $203M for Early-Stage Startups
Courtesy of MaC Venture Capital

While venture capital funding has taken a hit this year, that hasn’t stopped MaC Venture Capital from raising $203 million for its second fund.

The Los Angeles-based, Black-led VC firm said Monday that it had surpassed its initial $200 million goal for the fund, which dot.LA reported in January, over the span of seven months. MaC said it expects to invest the capital in up to 50 mostly seed-stage startups while remaining “sector-agnostic.”

Read moreShow less
RELATEDEDITOR'S PICKS
LA TECH JOBS
interchangeLA
Trending